GAS PRICES SPIKE Prices Jump Twenty Cents In A Week
Reported by: Atish Baidya
Web Producer: Atish Baidya
Reported: Feb. 23, 2012 11:11 AM EST
Updated: Feb. 23, 2012 11:17 AM EST
EYEWITNESS ONLINE WEBCAST VIDEO C L I C K T O P L A Y
, Kanawha County
, West Virginia
Gas prices have shot up 20 cents this week, leaving drivers like Josh Christian frustrated.
“I think it‘s ridiculous,” he said. “I didn’t even realize it had gone up that much until I got here.”
Oil prices are at a nine-month high. As a result gas prices are up 10% in the past two months.
“What can you do?” Michael Skills asked. “You can’t do anything about it.”
The problem isn’t supply and demand according to experts. In fact, demand in the United States is so low gasoline exports to other countries have increased. Experts point to mounting tensions over Iran and speculators flooding the oil trading commodity market as the reason prices are higher.
Experts predict prices will just keep going up as we head into the summer driving season. As for Josh Christian, he’s thinking about buying a new ride.
“I’ve been on Craigslist all night looking for a small car to drive to work,” he said.
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